CURRENT AFFAIRS

Detailed explanation-1: -Project Signing: Government of India and World Bank sign $100 Million Project to Boost Rural Economy of Tamil Nadu.

Detailed explanation-2: -WASHINGTON, June 30, 2022-The World Bank Board of Executive Directors has approved a $190 million loan to the southern Indian state of Tamil Nadu to address the housing needs of the lower-income groups and vulnerable population.

Detailed explanation-3: -The World Bank lends around US$27.1 billion to India, which makes it the largest country of IBRD support.

Detailed explanation-4: -India approached the International Bank for Reconstruction and Development (IBRD), popularly known as World Bank and the International Monetary Fund (IMF), and received $7 billion as loan to manage the crisis during 1991.

Detailed explanation-5: -strengthening private sector development. prioritising investments and interventions related to good governance, gender equality, innovation, health, education, and infrastructure. strengthening interventions in fragile and conflict affected states. ensuring a stronger focus on results and value for money.